Canadian transportation company Vitran Corp reported a less quarterly loss, backed by reduced loss from operations at its less-than-truckload segment.
The company managed to reduce its net loss for the fourth quarter to $2.3 million, or 14 cents a share, compared with a loss of $79.0 million, or $5.85 a share, a year ago and increased revenue by about seven per cent over the year-earlier period, the freight carrier and Logistics Company posted on Monday.
Also, its revenue witnessed a 7 percent rise to $165.0 million.
Vitran revealed that loss from operations from its less-than-truckload segment reduced to $2.6 million from $4.7 million a year ago. Revenue for the segment was up 6 percent to $134.7 million.
The transportation and supply-chain firm, which reports in U. S. dollars, said Monday that losses for the quarter became firmer from $79 million in 2008, on account of an accounting charge triggering an impairment of goodwill. Excluding that, the year-earlier loss was reported as $3.2 million.
"The fourth quarter of 2009 was the first quarter in several quarters where financial and operating metrics improved over the prior year", said Rick Gaetz, Vitran's President and Chief Executive Officer.